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Is Revolut offering lower but less sustainable costs to attract more customers? Monzo's approach, if they are to be believed, is to try to make charges cover t

Is Revolut offering lower but less sustainable costs to attract more customers? Monzo's approach, if they are to be believed, is to try to make charges cover their costs but be small, fair and simple.

krn 7y ago
> Is Revolut offering lower but less sustainable costs to attract more customers? Revolut broke even on monthly bases in December 2017[1], and Monzo was still loosing money in April 2019[2]. [1] https://www.reuters.com/article/us-fintech-revolut/fintech-revolut-britains-first-digital-bank-to-break-even-idUSKCN1GA021 https://www.reuters.com/article/us-fintech-revolut/fintech-r... [2] https://metro.co.uk/2019/04/08/monzo-set-100m-funding-despite-not-turning-profit-9132030/ https://metro.co.uk/2019/04/08/monzo-set-100m-funding-despit...
- TazeTSchnitzel 7y ago
  Interesting. Maybe Revolut's paid accounts work out well for it or it's able to earn profit from certain services.
  - deleted 7y ago
    [deleted]
- easytiger 7y ago
  This is the second post that you've made that isn't true. Revolut is not profitable. It reports an operating loss. What's your reason for such inaccurate information?
  - krn 7y ago
    > Revolut is not profitable. It reports an operating loss. It reported an operating loss for 2017, because it stopped losing money on monthly basis only in December 2017.
    - easytiger 7y ago
      > It reported operating loss for 2017, because it stopped losing money on monthly basis only in December 2017. What are you talking about? That's gibberish. It lost about £15million in 2017
      - krn 7y ago
        > It lost about £15million in 2017 If a company was losing money for the first 11 months out of 12, that's an expected result.
        easytiger 7y ago
        > If a company was losing money for the first 11 months out of 12, that's an expected result. I dunno what you think you are trying to achieve. Revolut is not profitable
        deleted 7y ago
        [deleted]

krn 7y ago

> Is Revolut offering lower but less sustainable costs to attract more customers? Revolut broke even on monthly bases in December 2017[1], and Monzo was still loosing money in April 2019[2]. [1] https://www.reuters.com/article/us-fintech-revolut/fintech-revolut-britains-first-digital-bank-to-break-even-idUSKCN1GA021 https://www.reuters.com/article/us-fintech-revolut/fintech-r... [2] https://metro.co.uk/2019/04/08/monzo-set-100m-funding-despite-not-turning-profit-9132030/ https://metro.co.uk/2019/04/08/monzo-set-100m-funding-despit...

TazeTSchnitzel 7y ago
Interesting. Maybe Revolut's paid accounts work out well for it or it's able to earn profit from certain services.
- deleted 7y ago
  [deleted]
easytiger 7y ago
This is the second post that you've made that isn't true. Revolut is not profitable. It reports an operating loss. What's your reason for such inaccurate information?
- krn 7y ago
  > Revolut is not profitable. It reports an operating loss. It reported an operating loss for 2017, because it stopped losing money on monthly basis only in December 2017.
  - easytiger 7y ago
    > It reported operating loss for 2017, because it stopped losing money on monthly basis only in December 2017. What are you talking about? That's gibberish. It lost about £15million in 2017
    - krn 7y ago
      > It lost about £15million in 2017 If a company was losing money for the first 11 months out of 12, that's an expected result.
      - easytiger 7y ago
        > If a company was losing money for the first 11 months out of 12, that's an expected result. I dunno what you think you are trying to achieve. Revolut is not profitable
        deleted 7y ago
        [deleted]